Remove the steaks from the refrigerator and allow to come to room temperature before cooking. Set a pan over a high heat, brush the steaks with a little of the oil then season with Salt and Pepper. When the pan is hot fry the steaks according to taste. Set aside to keep warm.
Add the remaining oil to the pan and fry the shallots until they begin to brown.
Add the vinegar, let it bubble for a minute then add the red wine, beef stock, Paprika, Thyme and sugar. Allow the sauce to simmer for a few minutes until thickened slightly.
Pour the sauce over the steak. Delicious served with green beans and baby new potatoes.